Walgreens Boots Alliance Inc (NASDAQ: WBA) Fells -45.94% This Year: What’s Next

The trading price of Walgreens Boots Alliance Inc (NASDAQ:WBA) closed lower on Tuesday, April 02, closing at $18.72, -4.20% lower than its previous close.

In examining the 52-week price action we see that the stock hit a 52-week high of $36.58 and a 52-week low of $19.50. Over the past month, the stock has lost -12.89% in value.

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Walgreens Boots Alliance Inc, whose market valuation is $16.15 billion at the time of this writing, is expected to release its quarterly earnings report Mar 28, 2024. The dividend yield on the company stock is 9.03%, while its Forward Dividend ratio is 1.69. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by $0.81 per share this quarter, however they have predicted annual earnings per share of $3.25 for 2024 and $3.34 for 2025. It means analysts are expecting annual earnings per share growth of -18.30% this year and 2.80% next year.

Analysts have forecast the company to bring in revenue of $35.89 billion for the current quarter, with the likely lows of $34.87 billion and highs of $37 billion. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2024 is $144.56 billion. The company’s revenue is forecast to grow by 3.90% over what it did in 2024.

A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Walgreens Boots Alliance Inc No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest WBA has a 100% Sell on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Sell, while an average of long term indicators suggests that the stock is currently 100% Sell.

A quick review shows that WBA’s price is currently -10.25% off the SMA20 and -13.60% off the SMA50. The RSI metric on the 14-day chart is currently showing 32.33, and weekly volatility stands at 5.63%. When measured over the past 30 days, the indicator reaches 3.36%. Walgreens Boots Alliance Inc (NASDAQ:WBA)’s beta value is currently sitting at 0.76, while the Average True Range indicator is currently displaying 0.77.

To see how Walgreens Boots Alliance Inc stock has been performing in comparison to its peers in the industry, here are the numbers: WBA stock’s performance was -4.20% in the latest trading, and -45.94% in the past year.

An evaluation of the daily trading volume of Walgreens Boots Alliance Inc (NASDAQ:WBA) indicates that the 3-month average is 14.31 million. However, this figure has increased over the past 10 days to an average of 16.99 million.

Currently, records show that 863.67 million of the company’s shares remain outstanding. The insiders hold 17.51% of outstanding shares, whereas institutions hold 59.62%. The stats also highlight that short interest as of Mar 15, 2024, stood at 31.16 million shares, resulting in a short ratio of 2.79 at that time. From this, we can conclude that short interest is 3.61% of the company’s total outstanding shares. It is noteworthy that short shares in March were down slightly from the previous month’s figure, which was 32.45 million. However, since the stock’s price has seen -28.30% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.